One of two houses owned by singer Gloria Estefan on Star Island went up for sale last week for a whopping $40 million.
The singer of Conga and Words Get in the Way stands to hit the jackpot if she gets anywhere near that price. According to property records, she and husband Emilio Estefan bought the corner lot property on the gated Miami Beach island in 1993 for $1.8 million.
Their ownership is supposed to be hush-hush. It’s under the name of a Florida corporation named Nena’s Villa.
So, what do you get these days for $40 million? Well, the 6,500-square-foot house was built in 1940 but was renovated by the Estefans in 1985. It’s got seven bedrooms and nine bathrooms and a guest house, and until recently the property was rented out by Miami music’s first lady for $30,000 a month.
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Of course, it does have a unique, unobstructed view of downtown Miami and the bay, and a private dock.
According to the Miami-Dade County Property Appraiser’s Office, the property is worth a tad more than $11 million. Jill Eber, the Realtor with the listing, declined to comment.
The Estefans live down the street at 39 Star Island and also have a sprawling beach house just north of Vero Beach.
Lawsuit goes on
A $400,000 controversy between high-profile developer Don Peebles and well-known Miami Beach Realtor Dora Puig that’s been festering for almost 10 years, is now being argued before its third judge.
Lawyers for Peebles and Puig couldn’t agree on a jury for last week’s trial in the 2006 lawsuit, so the six jurors seated after three days of negotiations were sent home. The parties will try again in May.
What’s the issue?
Puig sued in May 2006 alleging that Peebles ripped her off after he finished the fancy centering on the sale of luxury apartments at Peebles’ Residences at Bath Club at 5937 Collins Ave.
Peebles was the builder, and Puig was the director of marketing for the new units. Together, they sold 107 condos and six beach-side villas for an estimated $170 million.
When it came to the early resale of the condo, Puig says she brought in another $43 million and is owed $430,000. She yet has to see one red cent.
Peebles says he doesn’t owe her a thing. His PADC Marketing, the company that Puig worked for, is bankrupt, and that’s where she needs to go for the dough.
Said Michael Schlesinger, Puig’s attorney: “We are very disappointed that the jury trial did not go forward as our client has been seeking these sums since December 2005.”
Peebles’ lawyer didn’t return a call and an email requesting comment.
Off the market
The high-end real estate community was in a tizzy Friday morning when the listing search website Zillow showed that former Miami Heat star LeBron James’ mansion in Coconut Grove was pulled off the market Wednesday.
The crib went up for sale for $17 million in October.
“It was a glitch,” said Zillow marketing boss Amanda Wooley. “It’s still for sale.”
Thanks for the rumors that the King would be coming back to us, Zillow!